Select Equity Group L.P. Sells 167,219 Shares of Bloom Energy Corporation $BE

Select Equity Group L.P. lessened its holdings in Bloom Energy Corporation (NYSE:BE - Free Report) by 60.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,296 shares of the company's stock after selling 167,219 shares during the period. Select Equity Group L.P.'s holdings in Bloom Energy were worth $2,188,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BE. CWM LLC grew its position in Bloom Energy by 23.7% in the 1st quarter. CWM LLC now owns 3,360 shares of the company's stock worth $66,000 after purchasing an additional 644 shares in the last quarter. Xponance Inc. grew its position in Bloom Energy by 6.4% in the 1st quarter. Xponance Inc. now owns 15,484 shares of the company's stock worth $304,000 after purchasing an additional 935 shares in the last quarter. Mackenzie Financial Corp grew its position in Bloom Energy by 1.7% in the 4th quarter. Mackenzie Financial Corp now owns 63,372 shares of the company's stock worth $1,407,000 after purchasing an additional 1,035 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Bloom Energy by 47.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock worth $66,000 after purchasing an additional 1,081 shares in the last quarter. Finally, Banque Transatlantique SA grew its position in Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock worth $30,000 after purchasing an additional 1,161 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 37,955 shares of Bloom Energy stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $53.39, for a total value of $2,026,417.45. Following the completion of the transaction, the chief executive officer directly owned 2,378,663 shares of the company's stock, valued at approximately $126,996,817.57. The trade was a 1.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 25,000 shares of Bloom Energy stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $52.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the insider directly owned 225,949 shares of the company's stock, valued at $11,749,348. This trade represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 308,477 shares of company stock worth $14,924,815. Insiders own 3.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a research report on Friday. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and increased their target price for the company from $18.00 to $33.00 in a research report on Wednesday, July 9th. UBS Group raised their price objective on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Mizuho raised their price objective on shares of Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Finally, Morgan Stanley raised their price objective on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Bloom Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.61.

Bloom Energy Trading Down 0.2%

NYSE:BE traded down $0.16 during trading hours on Friday, reaching $67.13. The company's stock had a trading volume of 13,493,602 shares, compared to its average volume of 10,639,364. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 1,678.67 and a beta of 3.28. The firm has a 50-day simple moving average of $40.82 and a 200-day simple moving average of $27.49. Bloom Energy Corporation has a 1 year low of $9.02 and a 1 year high of $68.74. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.08. The firm had revenue of $401.24 million for the quarter, compared to analysts' expectations of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. Research analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Bloom Energy Profile

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.